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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (46971)	1/25/2002 1:37:56 PM
From: Sully-	Read Replies (2) of 65232

13:28 ET Moody's ups AMZN; sees no cash need in 02 (AMZN) 15.12 +1.11 (+7.9%: -- Update -- Stock has continued to rise since earlier report of Moody's debt upgrade (see 10:44). Reuters reports that Amazon.com's senior unsecured debt rating was raised one notch to "B3," its sixth highest "junk" grade, from "Caa1," and its subordinated debt rating to "Caa2," its eighth highest junk grade, from "Caa3." Moody's estimates that the co has sufficient cash on hand to finance its operations for the medium term and will not be required to access the capital markets in 2002. Moody's said Amazon.com had improved sales volume and inventory management, and kept a lid on capital spending, and likely would not need to tap capital markets to fund operations for at least 24 months.

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